ArcelorMittal S.A. (NYSE:MT) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its position in ArcelorMittal S.A. (NYSE:MT) by 25.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,540 shares of the basic materials company’s stock after acquiring an additional 4,707 shares during the quarter. Ameriprise Financial Inc.’s holdings in ArcelorMittal were worth $544,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of ArcelorMittal by 76.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 2,586 shares during the last quarter. Callan Family Office LLC purchased a new stake in shares of ArcelorMittal during the fourth quarter worth approximately $207,000. PNC Financial Services Group Inc. raised its stake in shares of ArcelorMittal by 23.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 1,702 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of ArcelorMittal by 94.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,408 shares of the basic materials company’s stock worth $218,000 after purchasing an additional 4,567 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 797 shares in the last quarter. 9.29% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Trading Down 1.7%

Shares of MT stock opened at $30.11 on Wednesday. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The stock has a market cap of $24.67 billion, a P/E ratio of 18.25, a P/E/G ratio of 0.14 and a beta of 1.62. The business has a fifty day simple moving average of $28.93 and a 200-day simple moving average of $27.25. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.33. The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. On average, analysts forecast that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 19th will be paid a dividend of $0.2338 per share. This represents a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 16th. ArcelorMittal’s payout ratio is currently 30.07%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MT. Jefferies Financial Group cut ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective for the company. in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of ArcelorMittal in a research report on Monday, April 14th. Morgan Stanley cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, ArcelorMittal has an average rating of “Moderate Buy” and a consensus target price of $32.95.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.